GoodShip Secures $25M to Revolutionize Shipping with AI
GoodShip, a burgeoning force in freight management, has successfully closed a $25 million Series B funding round, signaling a significant acceleration in its mission to revolutionize the trillion-dollar shipping industry through artificial intelligence. This substantial capital infusion, led by Greenfield Partners with continued participation from existing investors Bessemer Venture Partners, Ironspring Ventures, Chicago Ventures, and FUSE VC, underscores growing investor confidence in AI-driven solutions for complex logistics challenges. The latest funding round follows a period of remarkable growth for GoodShip, which reported a more than tenfold increase in revenue during 2024. This new investment will primarily fuel the expansion of its platform and intensify its commitment to AI development, enabling shippers to navigate intricate freight networks more efficiently and achieve superior outcomes.
Founded in 2022 by former Convoy executives Ryan Soskin (CEO) and David Tsai (CTO), GoodShip has rapidly positioned itself as a leader in the “freight orchestration” category. The company’s platform serves as a modern operating system for an industry that has long grappled with fragmented data and reliance on outdated manual processes and spreadsheets. By unifying, contextualizing, and analyzing critical transportation data, GoodShip provides real-time visibility and control, transforming what was once a “black box” of reactive decision-making into a transparent and proactive environment.
The platform’s comprehensive suite of features includes robust tools for analytics, carrier management, and transportation procurement. Shippers can leverage GoodShip to share carrier scorecards, issue performance alerts, initiate pricing renegotiations, and streamline procurement events such as full network RFPs and seasonal mini-bids. A core innovation lies in its AI-powered scenario builder, which precisely prioritizes award allocations based on real-world constraints like incumbency, asset availability, and service thresholds, all while optimizing for the lowest possible cost. This intelligence, combined with a smart recommendation engine, aims to strengthen decision support and compress workflows, leading to tangible benefits for customers. Indeed, clients like Tropicana, KeHe Distributors, Kellanova, and KBX Logistics have already reported a 3-5% reduction in transportation spend and a 20% decrease in late shipments, translating into millions of dollars in annual savings.
GoodShip’s success mirrors a broader trend within the logistics and supply chain sectors, where AI is no longer a competitive advantage but an essential tool for survival. The global AI in logistics market has surged to an estimated $20.8 billion in 2025, reflecting a staggering 45.6% compound annual growth rate since 2020. Similarly, the maritime AI market alone is valued at over $4 billion, with a projected 23% growth rate over the next five years. This widespread adoption is driven by AI’s ability to enhance operational efficiency, improve forecasting accuracy, and bolster risk management. AI applications span various aspects, from optimizing voyage planning and ship operations to predictive maintenance that reduces downtime and fuel consumption. While the industry embraces these advancements, it also grapples with considerations such as the need for workforce reskilling and ensuring human oversight for safety in complex scenarios.
As GoodShip expands its platform and opens a new physical office in Bellevue, Washington, the company, despite operating a largely remote team, is poised to deepen its impact on an industry ripe for digital transformation. By replacing antiquated systems with intelligent, data-driven solutions, GoodShip is not just raising capital; it’s raising the bar for how freight is managed in the 21st century.